The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1887-09-26

came INTO erect, In March es-
peeially Eastern points seem to have
been flooded with sugars, as the
subsequent high overland tariffs
operated in favor Of the New York
relineries,
But the decline in the April and
May overland movement was no
criterion Of diminishing trade, as
the Canadian Pacific here came into
play and, by offering low freights in
competition with the American
trunk lines, secured nearly twelve
million pounds more for delivery in
Eastern points of the United States.
OF course this longer route was not
favorable to the transportation of
sugar, and as soon as the American
lines reduced their tariff they re-
ceived more of the business, as is
shown by the increased shipments
in June which amounted to almost
six million pounds.
Nor is this all. Other shipments
of sugars have been from San
Francisco which have a very direct
bearing upon the New York market.
That is the shipment oil raw sugars,
surplus stocks from the Pacific
coast to this port via Cape Horn.
There are now four such cargoes in
sight. Three are already on the
way, and the fourth is loading in
San Francisco. Those on the way
are the +. B. Sutton, nearly one
hundred days out; the st. Frances,
about ninety days out, and the Ia
coma, over sixty days out. The
ship loading is the Solitaire. Each
of these cargoes comprises $500
tons, which gives 10000 tons of
raw sugars now in sight for this
market, which have played no part
in receipts for former years, but
which may be regarded as certain
future supplies owing to the surplus
on the Pacific coast. These ship
. ments are important, and indicate
that before long it may be reason
ably expected that Hawaiian raws
will come in larger quantities to
New York.
AS it is, with the depressed con-
dition of the sugar market and the
large surplus of European stocks,
the local market is not likely to
harden any, even from the receipt
of an extra ten thousand tons, for
which there is really no room. The
Hawaiian crop of 1887 will probably
reach 10000 tons, so that New
York may reasonably expect to re-
ceive an additional $4,000 tons to
the supplies of this year, or at least
$4,000 tons from that source in
1887.
The San Francisco importers have
been favored this year by exceed
ingly low freights, the high price of
wheat affecting the charter market.
1t remains to be seen, however,
whether these shipments of raws will
be financial success. Their cost
in San Francisco was about 4.65
cents, the retineries there paying J
cent off the Cuban basis at the time
of their arrival. But to this must
be added freight to New York, in
surance, interest, commissions, loss
in weight and polarization, lighter
age, carriage, sampling, etc., which
would make cost of over as cent
more, giving the net cost laid down
in New York at 5.45. AS the car
goes will be about six months on
board from loading to delivery the
shrinkage in polarization and weight
will be material. AS these sugars
are admitted free Of duty it is only
natural to infer that the New York
reiners, who are expected to buy
them, will desire to reap some Of
the benefits from the absence OF
duties. 1t will be only natural that
they should claim some share of the
duty that is not paid, especially as
California refined sugars come into
keen competition with the New York
manufactures at Eastern points.
The total exports of sugar from
California to the East by all routes
aggregates 1000 tons for the first
half of this year, as follows:--
Lbs.
BY U. S. overland lines. .32, 530,S70
BY Canadian Pacific. .l2,000,000
*Round the Horn. 100000 900
Total. $780, $40
*One cargo loading.
Whether the New York refners
are anxious for this influx or not is
matter for their consideration.
Their attention has been brought to
the subject, and it is for them to
study out its bearings upon their
business. One thing, however,
seems certain, and that it is in their
power to exclude Hawaiian raws
from this market unless they derive
some of the benefits conferred by the
Western refiners through the remis-
sion Of duties IN. Y. Herald,
Aug. A.
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